How to Read Your W2

W2 Status
The letters and numbers listed below coordinate to the letters and numbers listed in the boxes on your W2 form.

a. Employee’s social security number

This is the employee’s social security number. The social security number must match the employee’s social security card. If there is a discrepancy, contact Payroll Accounting at (801) 585-0382.

b. Employer’s identification number

This number is the University of Utah’s federal tax I.D. number.

c. Employer’s name, address, and ZIP code

This is the University of Utah’s name, address, and ZIP code.

d. Control number

N/A

e.f.  Employee’s name, address and zip code

This is the employee’s name, address and zip code. A corrected W-2 is not required for an address change.

(Note: Changes to address can be made via Change Your Mailing Address page .)

1. Wages, tips, other compensation

This figure includes all federally taxable income for checks received from the University in the calendar year 2016; December 16, 2015 thru December 15, 2016.

Includes:

– Wages (gross wages payments less tax deferred and tax excluded amounts such as retirement amounts, flexible spending account, parking, and salary deferrals i.e.403(b) or 457 contributions.)

– Taxable tuition reduction

– Nonqualified moving expenses

Excludes:

– 403(b) contributions

– 457 contributions

– Employee paid health care (reported as Flexible Spending Account)

– Dependent care

– Qualified moving expenses

Box 1 represents the taxable wages amount that is reported on the employee’s 1040.

2. Federal income tax withheld

This figure includes all federal taxes withheld from University paychecks in the calendar year 2016.

3. Social security wages

This figure includes all social security taxable income for University paychecks in the calendar year 2016. The social security tax maximum amount for 2016 was $118,500.

This amount will include box 1, plus 403(b) and 457 salary deferrals, up to the social security maximum.

4. Social security tax withheld

This figure includes all social security taxes withheld from University paychecks in the calendar year 2016. This tax is noted as FICA on your check stub. This equals box 3 times 6.2%. For 2016, the amount should not exceed $7,347 ($118,500 x 6.2%)

5. Medicare wages and tips

This figure includes all Medicare taxable income for University paychecks in the calendar year 2016. There is no maximum amount for Medicare taxes. This amount will include box 1, plus 403(b) and 457 salary deferrals.

6. Medicare tax withheld

This figure includes all Medicare taxes withheld from paychecks received from the University in the calendar year 2016. This tax is noted as FICA-MED/HI on the check stub. This equals box 5 times 1.45%.  If wages are in excess of $200,000 then add .9% of wages in excess of $200,000 for additional Medicare tax.

7. Social security tips

N/A

8. Allocated tips

N/A

9. N/A

10. Dependent care benefits

The amount deducted from your pay before taxes and deferred to a dependent care flexible spending account.

11. Nonqualified plans

Includes payment of nonqualified deferred compensation included in box 1 and also boxes 3 and 5.

12. Elective deferrals

Code E-elective deferrals under a 403(b) salary reduction arrangement.

Code G-elective deferrals under a 457 salary reduction arrangement.

Code BB-designated Roth contributions under a section 403(b) plan.

Code DD – Cost of employer-sponsored health coverage. This amount is not taxable.

13. Retirement plan

The retirement box is checked if the employee is eligible for any University paid retirement plan or the employee actually participated in a salary reduction arrangement under 403(b) or 457.

14. Other

The following items are deducted from the taxable gross and are not included in the amount located in Box 1:

  • Health/FSA – The amount deducted from your pay before taxes for health care and dental coverage premiums and/or deferred to a health flexible spending account (this amount is not taxable and is not included in your taxable compensation shown in Box 1)
  • PARK – Amounts deducted from your pay before taxes to pay for University parking permits (this amount is not taxable and is not included in your taxable compensation shown in Box 1)

The following items are added to the taxable gross and are included in the amount in Box 1:

  • EXLI – Amounts paid by the University for executive life insurance (this amount is taxable to you and has been added to your taxable compensation shown in Box 1)
  • CCAR – Amounts paid by the University for an automobile allowance (this amount is taxable to you and has been added to your taxable compensation shown in Box 1)
  • MOV – Amounts paid by the University for nonqualified moving expenses (this amount is taxable to you and has been added to your taxable compensation shown in Box 1)
  • TUI – The amount of tuition reduction benefit you received for yourself, a spouse, or child that is taxable to you (this amount has been added to your taxable compensation shown in Box 1); tuition reduction benefits you received that are not taxable are not included on your W-2
  •  NRA – Amounts paid by the University for legal fees on your behalf  (this amount is taxable to you and has been added to your taxable compensation shown in Box 1)
  • GIFT – Amounts you received from the University as gifts or awards (this amount is taxable to you and has been added to your taxable compensation shown in Box 1)

15. State and employer’s state I.D. number

This is the state and state I.D. number for the employer.

16. State wages, tips, etc

This figure includes all state taxable income from paychecks received from the University in the calendar year 2016 (December 16, 2015 thru December 15, 2016). This amount will equal box 1.

17. State Income Tax

This figure contains all State taxes withheld from University paychecks in the calendar year 2016.

18. Local wages, tips, etc.

The state of Utah does not have local wages, tips, etc.  If a state other than Utah, amount will be reported if applicable.

19. Local income tax

The state of Utah does not have local income taxes. If a state other than Utah, amount will be reported if applicable.

20. Locality name

The state of Utah does not have locality taxes. If a state other than Utah, amount will be reported if applicable.